941 Shares in PPG Industries, Inc. (PPG) Purchased by G&S Capital LLC
G&S Capital LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 941 shares of the specialty chemicals company’s stock, valued at approximately $110,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in PPG Industries during the fourth quarter worth $128,000. SeaCrest Wealth Management LLC purchased a new position in PPG Industries during the fourth quarter valued at $132,000. Crewe Advisors LLC purchased a new position in PPG Industries during the fourth quarter valued at $136,000. NuWave Investment Management LLC purchased a new position in PPG Industries during the fourth quarter valued at $150,000. Finally, Fairview Capital Investment Management LLC purchased a new position in PPG Industries during the fourth quarter valued at $203,000. 76.90% of the stock is currently owned by hedge funds and other institutional investors.
PPG Industries, Inc. (PPG) opened at $116.07 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.66 and a quick ratio of 1.22. The firm has a market cap of $29,101.09, a PE ratio of 19.77, a PEG ratio of 2.02 and a beta of 1.56. PPG Industries, Inc. has a 52 week low of $100.45 and a 52 week high of $122.07.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, February 15th. PPG Industries’s dividend payout ratio is currently 28.53%.
PPG Industries declared that its board has authorized a stock buyback program on Thursday, December 14th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities analysts have issued reports on PPG shares. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $115.00 price objective on shares of PPG Industries in a report on Wednesday, January 17th. Raymond James Financial started coverage on shares of PPG Industries in a report on Tuesday, December 19th. They set an “outperform” rating and a $139.00 price objective on the stock. Jefferies Group reaffirmed a “buy” rating and set a $135.00 price objective on shares of PPG Industries in a report on Wednesday, January 3rd. Finally, Atlantic Securities downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $124.19.
In other news, VP Jean-Marie Greindl sold 9,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total value of $1,100,005.00. Following the transaction, the vice president now directly owns 27,685 shares of the company’s stock, valued at $3,205,646.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.
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PPG Industries Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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